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Polarized Global Economies Triggered by Covid-19 Pandemic

The response to Covid-19 pandemic has been polarized between the past Trump administration and current Biden administration. As different approaches and manners to covid-19 go, people has gathered and shared similar views using social media. According to Natioal Intelligence Council report (Strobel & Volz, 2021, April 8), these polarized view and responses were not limited in US politics. Globally, authoritarian regimes used this Pandemic as a great opportunity to crack down civilian protests in Hong Kong, Myanmar, and other countries. Thus, Covid-19 pandemmic has been the most singular global disruption since World War II (Strobel & Volz, 2021, April 8).

Biden Administration printed out dollars to help those who have been locked home due to Pandemic. Temporarily, US dollar signaled weak signs and emerging markets showed strong economic prospects particularly at the end of 2020.

US dollars are coming back strongly in the first week of April, 2021, partly due to bright economic prospects in the USA(Hirtenstein, 2021, April 8). Due to this strengthening US dollar, Brazil, Russia, Turkey, and Mexico have been dealing with their currencies depreciation and investment outflow (Hirtenstein, 2021, April 8). Accordingly, they have increased interest rate.

As Natioal Intelligence Council reports (Strobel & Volz, 2021, April 8), the Pandemic made emerging economies dragged down. Most countries have focused on their domestic issues and left other issues behind.

Bird, M. (2021, March 30). The Vietnamese Recovery Is Made in America, Wall Street Journal, retrieved from: https://www.wsj.com/articles/the-vietnamese-recovery-is-made-in-america-11617095869

Hirtenstein, A. (2021, April 8). Investors Sour on Emerging Markets as U.S. Prospects Brighten, Wall Street Journal, retrieved from: https://www.wsj.com/articles/investors-sour-on-emerging-markets-as-u-s-prospects-brighten-11617869893

Strobel, W. P. & Volz, D. (2021, April 8). Covid-19 Fuels Inequality, Political Divide, Authoritarianism World-Wide, U.S. Intelligence Analysts Say, Wall Street Journal, retrieved from: https://www.wsj.com/articles/covid-19-fuels-inequality-political-divide-authoritarianism-world-wide-u-s-intelligence-analysts-say-11617890436